Wall Street socialism: privatising profits, nationalising lo

[Icuimhne81]

Excellent article in this weeks An Phoblacht by Emma Clancy


http://www.anphoblacht.com/news/detail/35434

In essence, the theme of free markets and deregulation is all good v's taxation of the wealthy and regulation is all bad.

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?

As an idea, a simple law to implement could be where bonuses are awared they are awarded on a percentage basis but are awarded to ALL staff of a company, e.g - a 300% bonus to a CEO of a bank (see BOI 2006) who is already on a salary of 1.1 million would mean the bank would have to pay all staff from cashiers and cleaners a 300% bonus on their salaries also.
Lets face it, if you walked into a bank where the windows were not cleaned, rubbish on the floor and/or you saw the directors of the company emptying the bins you may decide to bank elsewhere?
Cleaners play their part in the generation of profits, they should receive their share of those profits.

[wombat]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

[Harpo]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

Too true. To say they can co-exist is a cop out quite frankly. Some may mistake Keynesian economics or a welfare state like we saw in Britian as a mixture of capitalism and socialism but that is merely a more humanitarian form of capitalism or even capitalism trying to preserve itself by preventing revolution through giving some concessions to the working class to pacify them. Labour and capital are clashing factors of production. Both are needed to produce but you must decide whether labour controls capital or capital controls labour.

[Drico]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

A balance therefore would be somehere in between the two. Them being opposite does not prevent a mid point, in fact it makes it easier.

Ever heard of a social market economy?

It is the standard economic base in continental Europe since WW2

[R Paul]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

Too true. To say they can co-exist is a cop out quite frankly. Some may mistake Keynesian economics or a welfare state like we saw in Britian as a mixture of capitalism and socialism but that is merely a more humanitarian form of capitalism or even capitalism trying to preserve itself by preventing revolution through giving some concessions to the working class to pacify them. Labour and capital are clashing factors of production. Both are needed to produce but you must decide whether labour controls capital or capital controls labour.

Capital controls labour is the system. Anytime people try the opposite it usually goes off the rails pretty quickly. You'd end up either in bankruptcy, in the case of the private sector, or something insatiable like the HSE, in the case of the public sector.

[Harpo]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

Too true. To say they can co-exist is a cop out quite frankly. Some may mistake Keynesian economics or a welfare state like we saw in Britian as a mixture of capitalism and socialism but that is merely a more humanitarian form of capitalism or even capitalism trying to preserve itself by preventing revolution through giving some concessions to the working class to pacify them. Labour and capital are clashing factors of production. Both are needed to produce but you must decide whether labour controls capital or capital controls labour.

Capital controls labour is the system. Anytime people try the opposite it usually goes off the rails pretty quickly. You'd end up either in bankruptcy, in the case of the private sector, or something insatiable like the HSE, in the case of the public sector.

Well yes obviously! In the current time capital controls labour and therefore we live in a capitalist world.

[garlandgreen]

Excellent article in this weeks An Phoblacht.....

An Oxymoron


Anyway would the cleaner have to bear the brunt of the loss of a failing firm as well? And how would SME's compete with multinationals in trying to hire cleaners under that system?

[R Paul]

Surley the time has come, through legislation, where a balance can be met between capitalism and socialism?
.

Not really, they are opposites.

Too true. To say they can co-exist is a cop out quite frankly. Some may mistake Keynesian economics or a welfare state like we saw in Britian as a mixture of capitalism and socialism but that is merely a more humanitarian form of capitalism or even capitalism trying to preserve itself by preventing revolution through giving some concessions to the working class to pacify them. Labour and capital are clashing factors of production. Both are needed to produce but you must decide whether labour controls capital or capital controls labour.

Capital controls labour is the system. Anytime people try the opposite it usually goes off the rails pretty quickly. You'd end up either in bankruptcy, in the case of the private sector, or something insatiable like the HSE, in the case of the public sector.

Well yes obviously! In the current time capital controls labour and therefore we live in a capitalist world.

Agreed, but for the reasons I outlined I expect you will never have any sort of widespread situation where labour controls capital. You might get away with it on something small scale like a hippy commune, a kibbutz or a small co-op for a short while but even then these don't tend to last.

Most of the hippy communes are long gone, the kibbutzes have almost all gone private and small co-ops either tend to go under, get bought out or grow into big co-ops at which point they switch to the capital controls labour model.

That has been the evidence to date and I suspect will continue to be the evidence in the future.

[goosebump]

Excellent article in this weeks An Phoblacht by Emma Clancy

Articles about economics in An Poblacht?

What next? Knitting patterns? Recipes for veal picatta?

[wombat]

Articles about economics in An Poblacht?

They have particular expertise in vanishing bank deposits.